Stockholm’s Brakket Invest Picks Up MENA-Based Tech Firm
Brakket Invest, a growth equity fund based in Stockholm and Dubai, signed an agreement this week to acquire BEON-IT, a SAP Gold-Partner firm with offices throughout the Middle East. The move will give Brakket Invest a foothold in the global tech industry as it gears up to launch its operations in Switzerland.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20211006005013/en/
Stockholm’s Brakket Invest Picks Up MENA-Based Tech Firm (Photo: Business Wire)
“This acquisition confirms our commitment to fueling the growth of tech pioneers, especially in the GCC and DACH regions, where demand for SAP solutions continues to grow exponentially,” Brakket Group Managing Partner M. Hussein El Hakim says.
SAP is widely recognized as the global leader in enterprise software for the management of business operations.
BEON-IT: Digitalizing the Region’s SMEs
On October 6, 2020 a Big Four firm announced its acquisition of Tyconz Enterprise Business to expand its Technology and Digital Consulting Business. Tyconz’ SME business was excluded from the acquisition, and was later rebranded as Beon-IT.
With six offices across the region and a qualified team of over 50 Arabic-speaking experts, BEON-IT has served more than 200 blue-chip companies across the region, in a variety of industries like EC&O, manufacturing, retail, professional services and consumer goods.
Beon-IT CEO Shadi Abdelkhalek voiced his pleasure with the acquisition, which, he explained, would allow BEON-IT to achieve its full market potential. “We’re thrilled that the organization will be joining Brakket Invest, and are confident that the move will help it expand into new markets and offer its clients more innovative services,” he says.
Leveraging Booming Potential
With BEON-IT having been advised by Awad Capital Ltd., a DFSA regulated firm, and Brakket Invest’s expansive presence across the EMEA region, the new partnership abounds with growth potential. BEON-IT will now enjoy access to Brakket’s extensive SAP consulting expertise, diverse network of partners, and consolidated advisory resources.
“We’re particularly well-positioned to help BEON-IT realize its latent potential,” Brakket Invest’s el Hakim says. “This acquisition will enable us to solidify our tech capabilities as we join forces in the digital transformation of the region’s SMEs.”
Brakket Invest is a Dubai & Stockholm-based growth equity fund that invests in high-growth, high-potential ventures in deep-tech, Internet and consumer platforms, shaping & transforming them into tomorrow’s regional market leaders.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211006005013/en/
Contact information
M. Hussein el Hakim
+971 – 4313 2599
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Riskified Analysis Reveals 1 in 4 Refund Dollars Is Abusive; Introduces "Dynamic Returns," a New Policy Protect Feature, to Safeguard Revenue While Increasing Customer Satisfaction12.1.2026 15:00:00 EET | Press release
Riskified (NYSE: RSKD) a leader in ecommerce fraud and risk intelligence, today released a research analysis highlighting a growing customer experience dilemma: As merchants tighten controls to fight a surge in return and refund abuse, they are inadvertently creating a more restrictive and frustrating experience for their best customers. To help retailers mitigate this challenge, Riskified has introduced a new feature in its Policy Protect solution, Dynamic Returns, AI-powered return decisions that adapt in real-time based on customer eligibility. Riskified's 2024 analysis of over a million refund claims found that 1-2% of total order value measured in sales dollars was requested back as refunds, with nearly 1 in 4 dollars claimed being abusive. In response to rising abuse, many retailers are implementing restrictive tactics like flat return fees, shorter return windows, and delaying refunds, often taking 10+ days for warehouse inspection. These measures frustrate good customers, as 68
BitGo Holdings Announces Launch of Initial Public Offering12.1.2026 15:00:00 EET | Press release
BitGo Holdings, Inc. (“BitGo”), the digital asset infrastructure company, today announced the launch of its initial public offering of 11,821,595 shares of Class A common stock pursuant to a registration statement on Form S-1 filed with the U.S. Securities and Exchange Commission (the "SEC"). The offering consists of 11,000,000 shares of Class A common stock being offered by BitGo and 821,595 shares of Class A common stock being offered by certain existing stockholders of BitGo. BitGo will not receive any proceeds from the sale of the shares by the selling stockholders in connection with the offering. In connection with the offering, BitGo intends to grant the underwriters a 30-day option to purchase up to an additional 1,770,000 shares of Class A common stock. The initial public offering price is expected to be between $15 and $17 per share. BitGo has applied to list its Class A common stock on the New York Stock Exchange under the ticker symbol "BTGO". Goldman Sachs & Co. LLC is acti
Esri’s Custom Chart Builder Adopted by the Shom (French Hydrographic and Oceanographic Office) for Nautical Chart Production12.1.2026 15:00:00 EET | Press release
Esri, the global leader in location intelligence, announced today that the Shom (French Hydrographic and Oceanographic Office) has officially adopted Custom Chart Builder (CCB) for automated production of all paper nautical charts. Following extensive testing and configuration, Shom confirmed that CCB-generated charts meet the stringent safety standards required by the French Navy, marking a pivotal advancement in automating maritime cartography and reinforcing its role as a pioneer in maritime digital transformation. “This adoption demonstrates that high-quality, regulation-compliant paper charts can now be produced without manual intervention, dramatically reducing production time and cost,” said Rafael Ponce, Esri principal maritime consultant. “Shom’s endorsement validates Esri’s CCB as a trusted solution for hydrographic offices worldwide, supporting the transition to digital-first workflows and e-navigation.” Over the course of 2024, Shom evaluated multiple software solutions and
France Expands National AAC Access for Agenus' Botensilimab + Balstilimab for Ovarian Cancer and Soft-Tissue Sarcomas12.1.2026 14:30:00 EET | Press release
Agenus Inc. (Nasdaq: AGEN), a leader in immuno-oncology innovation, today announced that France’s National Agency for Medicines and Health Products Safety (ANSM) has approved an updated national treatment protocol for botensilimab (BOT) plus balstilimab (BAL) under France’s Autorisation d’Accès Compassionnel (AAC) framework. The updated protocol expands France’s previously granted AAC authorization for BOT+BAL in patients with microsatellite-stable (MSS) metastatic colorectal cancer (mCRC) without active liver metastases to eligible patients with certain ovarian cancers and soft-tissue sarcomas—diseases with substantial unmet medical need after standard options have been exhausted. The revised protocol is designed to broaden the eligibility criteria, allowing more patients with advanced solid tumors to have early access to BOT+BAL under reimbursed compassionate use, and to enhance monitoring and treatment procedures in participating hospitals. BOT+BAL is a chemotherapy- and radiation-f
Cellares Expands Global Smart Factory Network With European Headquarters in the Netherlands12.1.2026 14:30:00 EET | Press release
Cellares, the first Integrated Development and Manufacturing Organization (IDMO), today announced it has secured a site and signed a long-term lease for a new IDMO Smart Factory at Leiden Bio Science Park (LBSP) with Dura Vermeer Commercieel Vastgoed. The facility will serve as Cellares’ European headquarters and expand the company’s global manufacturing network with dedicated regional capacity. Cell therapy manufacturing is patient-specific and time-sensitive, making regional production capacity increasingly important as programs advance from clinical development toward commercial supply. The new Netherlands hub is designed to provide European drug developers with access to automated manufacturing infrastructure, while maintaining alignment to a common production standard across Cellares’ global facilities. The leased premises comprise approximately 9,741 square meters (about 105,000 square feet LFA) of laboratory and office space within the Nexus building in Leiden, a newly construct
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom